Q1. Oaktree Industries Inc. has the following selected accounts at December 31, 2020: - GST Payable (net of ITC) $ 16,000 - Bonds payable 300,000 - Equipment 120,000 - Current portion of bonds payable 40,000 - Notes payable, long-term 100,000 - Interest payable (due Mar 1/21) 10,000 - Accounts payable 44,000 - Discount on bonds payable (LT) 10,000 - Accounts receivable 34,000 Required: Prepare the liabilities section of Oaktree's balance sheet at December 31, 2020, to show how Oaktree would report these items. Report total current liabilities and total liabilities. You may use Exhibit 1-10 as reference